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LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES LEASES
We lease office space facilities and equipment under non-cancelable operating and finance leases with various expiration dates, some of which contain renewal options. The Company's lease portfolio is comprised of two major classes. The lease of the Ashburn facility is accounted for as a finance lease. Under this lease agreement, the basic rent increases by a fixed 2.5% escalation annually, expiring on May 28, 2029. The other office spaces and equipment leased are accounted for as operating leases.
Table 13.1: Details of Lease Costs
For the Year Ended December 31,
20242023
(in thousands)
Operating lease cost$277 $541 
Short-term lease cost (1)
53 55 
Finance lease cost
Amortization of finance lease assets1,221 1,221 
Interest on finance lease liabilities527 611 
Total finance lease cost1,748 1,832 
Total lease costs$2,078 $2,428 
(1) Leases that have terms of 12 months or less.
Table 13.2: Future Minimum Lease Payments
Operating LeasesFinance Leases
(in thousands)
Year Ending December 31, 2025$245 $2,314 
Year Ending December 31, 2026252 2,372 
Year Ending December 31, 2027166 2,431 
Year Ending December 31, 202826 2,492 
Year Ending December 31, 2029— 1,049 
Thereafter— — 
Total minimum lease payments689 10,658 
Less: Imputed interest(61)(1,140)
Total lease obligations628 9,518 
Less: Current portion of lease obligations(210)(1,877)
Long-term lease obligations$418 $7,641 
Table 13.3: Weighted-Average Remaining Lease Terms and Discount Rates
For the Year Ended December 31,
20242023
Weighted average remaining lease term (in years):
Finance leases4.3 years5.3 years
Operating leases2.8 years3.4 years
Weighted average discount rate:
Finance leases5.04%5.04%
Operating leases6.04%5.75%
Table 13.4: Supplemental Cash Flow Information Related to Leases
For the Year Ended December 31,
20242023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows related to operating leases$275 $585 
Operating cash flows related to finance leases528 611 
Financing cash flows related to finance leases1,730 1,592 
LEASES LEASES
We lease office space facilities and equipment under non-cancelable operating and finance leases with various expiration dates, some of which contain renewal options. The Company's lease portfolio is comprised of two major classes. The lease of the Ashburn facility is accounted for as a finance lease. Under this lease agreement, the basic rent increases by a fixed 2.5% escalation annually, expiring on May 28, 2029. The other office spaces and equipment leased are accounted for as operating leases.
Table 13.1: Details of Lease Costs
For the Year Ended December 31,
20242023
(in thousands)
Operating lease cost$277 $541 
Short-term lease cost (1)
53 55 
Finance lease cost
Amortization of finance lease assets1,221 1,221 
Interest on finance lease liabilities527 611 
Total finance lease cost1,748 1,832 
Total lease costs$2,078 $2,428 
(1) Leases that have terms of 12 months or less.
Table 13.2: Future Minimum Lease Payments
Operating LeasesFinance Leases
(in thousands)
Year Ending December 31, 2025$245 $2,314 
Year Ending December 31, 2026252 2,372 
Year Ending December 31, 2027166 2,431 
Year Ending December 31, 202826 2,492 
Year Ending December 31, 2029— 1,049 
Thereafter— — 
Total minimum lease payments689 10,658 
Less: Imputed interest(61)(1,140)
Total lease obligations628 9,518 
Less: Current portion of lease obligations(210)(1,877)
Long-term lease obligations$418 $7,641 
Table 13.3: Weighted-Average Remaining Lease Terms and Discount Rates
For the Year Ended December 31,
20242023
Weighted average remaining lease term (in years):
Finance leases4.3 years5.3 years
Operating leases2.8 years3.4 years
Weighted average discount rate:
Finance leases5.04%5.04%
Operating leases6.04%5.75%
Table 13.4: Supplemental Cash Flow Information Related to Leases
For the Year Ended December 31,
20242023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows related to operating leases$275 $585 
Operating cash flows related to finance leases528 611 
Financing cash flows related to finance leases1,730 1,592